Originally Posted by
midnight cruiser
The question that governments will be asking in the next few days and weeks will be "Is the cure (lockdown and all the damage that goes with it) worse than the disease? (Which we'll probably catch in the end anyway)
The economic fallout will be significant with unknown repercussions in every facet. Why don't some governments do what some small countries have immediately done.
Ask/force banks, credit card companies and all, to have a 6 month moratorium on all repayments and extend as needed until economies get back on their feet. This may bring a much better sense of support than a percentage of pay (or none at all). With current plans tax payers are self funding in effect , if not this generation certainly the next. It's not like lending institutions haven't earned enough in many cases. Deferment seems more practical and allows G'ments to more immediately provide stress relief whilst they work out the liquidity of the financial system for continued support of deferment. God knows they have the financial geniuses amongst them to work that out just as they do when they conjure up funding in so many other ways.
Doesn't solve everything for e.g. renters but for a great number of people it would certainly help.